BREAKING: Bahrain's Batelco selling stake in Kuwait's QualityNet

Being sold to VIVA Kuwait.
VIVA Kuwait, Batelco, QualityNet, Kuwait, Sale, Business, Economy, Technology, Middle East

Share

Image: QualityNet CEO Mohammed Nizar Al-Nusif

Batelco has announced it has signed a Share Purchase Agreement (SPA) to sell its 90% shareholding of Kuwait subsidiary QualityNet to Kuwait Telecommunications Company (better known as VIVA Kuwait).

The price consideration will be determined upon completion of the full transfer of shares and fulfilment of the terms, conditions and covenants agreed between the parties in the SPA. Moreover, QualityNet’s shares will be transferred to VIVA after obtaining the necessary regulatory approvals.

QualityNet CEO Mohammed Nizar Al-Nusif was on the cover of the March 2019 edition of CommsMEA.

The news comes on the same day the Telecommunications Regulatory Authority (TRA) of Bahrain announced it had entered the final consultation stage of Batelco separating into different entities.

Editor's Choice

Society on the move: Dr Nuria Oliver on how data – and mobile phones – can make the world a better place
Data can help lift up society and make the world a better place, says Dr Nuria Oliver. And a key part of that: mobile phones.
Number of women using mobile phones up 250m in five years - but tech gender gap remains
GSMA study says closing the mobile gender gap also represents a US$140 billion commercial opportunity.
From the mag: how Liquid Telecom is building Africa’s digital future
A lot of organisations may talk about helping to deliver the digital future for Africa. But you’ll have a hard time finding one more fully dedicated to that mission than Africa’s own Liquid Telecom. Group Chief Operating Officer Ahmad Mokhles discusses how it’s achieving that, and what the implications for society – not only in Africa, but around the world – could be.

Most popular

Don't Miss a Story